Axcelis Technologies, Inc. (ACLS) - NASDAQ
  • Fri, May 20, 10:56 AM
    • Lam Research (LRCX +4.1%), KLA-Tencor (KLAC +2.3%), ASML (ASML +2.2%), Axcelis (ACLS +3.9%), Kulicke & Soffa (KLIC +3%), Ultratech (UTEK +3.5%), Teradyne (TER +2.3%), Rudolph Technologies (RTEC +2.6%), and Xcerra (XCRA +2.7%) are outperforming after Applied Materials (AMAT +13.2%) beat FQ2 estimates, provided FQ3 guidance that was well above consensus, and reported FQ2 orders rose 52% Q/Q and 37% Y/Y to $3.45B. The Nasdaq is up 1.2%.
    • Applied's order growth was fueled in large part by display equipment orders totaling $700M, up sharply from $183M in the prior quarter and $120M a year ago. On its earnings call, AMAT said display order strength is likely to continue "over the rest of 2016," and is being driven by mobile-related OLED investments - many reports have indicated Apple plans to bring iPhones sporting OLEDs to market next year.
    • OLED materials/IP provider Universal Display (OLED +5.2%) is rallying. As are display panel makers LG Display (LPL +6.5%) and AU Optronics (AUO +3.2%), each of which have been stepping up their OLED investments, and industrial laser maker Coherent (COHR +2.5%), which has recently seen an OLED-related order surge.
    • Also: Applied's NAND flash-related orders more than doubled Y/Y to nearly $1B thanks to its customers' 3D NAND investments. That more than offset softer DRAM and foundry-related chip equipment demand. On the call, Applied suggested NAND orders will slow a bit in the second half of FY16, but remain strong overall. Foundry demand is expected to grow somewhat this year, with Applied gaining share. Industry wafer fab equipment demand is expected to be flat to slightly up.
    • B. Riley has upgraded Applied to Buy, and several firms have hiked their targets. Cowen's Tim Arcuri thinks $3 in annual EPS is now possible. Credit Suisse's Farhan Ahmad: "AMAT is clearly outgrowing peers this year, driven by favourable mix shift within WFE (NAND/Foundry increasing, DRAM declining) and strong growth in Display (China/OLED investments)."
    | Fri, May 20, 10:56 AM
  • Mon, May 2, 5:24 PM
    • Axcelis Technologies (ACLS -4.2%) is off 1.5% after hours following its Q1 earnings beat as Q2 guidance is coming below analyst projections.
    • Market share was up to 18.3% from a year-ago 12.4%, the company said.
    • Revenue breakout: Product, $62.2M (down 7.9%); Services, $5.35M (down 7.1%). System revenues were $37M.
    • It's forecasting similar results in Q2: revenues in the mid-$60M range (light of expectations for $72.3M), with gross margin in the mid-30% range and operating profit of $1M-$2M andj EPS of break-even to $0.01 (vs. consensus for $0.03).
    • Conference call link
    • Press Release
    | Mon, May 2, 5:24 PM
  • Mon, May 2, 4:05 PM
    • Axcelis Technologies (NASDAQ:ACLS): Q1 EPS of $0.02 beats by $0.01.
    • Revenue of $67.5M (-7.9% Y/Y) beats by $1.55M.
    • Press Release
    | Mon, May 2, 4:05 PM
  • Sun, May 1, 5:35 PM
  • Sun, May 1, 5:35 PM
  • Fri, Feb. 19, 12:25 PM
    • Lam Research (LRCX +4%), KLA-Tencor (KLAC +2.2%), ASML (ASML +2.6%), Axcelis (ACLS +3.9%), Rudolph Technology (RTEC +2.3%) and Xcerra (XCRA +4.9%) have caught sympathy bids after chip equipment giant Applied Materials (AMAT +9.4%) slightly beat FQ1 estimates and (more importantly) issued strong FQ2 guidance. The Nasdaq is up 0.3%.
    • Applied's numbers come after Lam and ASML forecast demand would pick up in calendar Q2 following a soft Q1. On its earnings call (transcript), Applied forecast the wafer fab equipment (WFE) market would be roughly flat in 2016 - Gartner forecast a 2.5% drop in January, followed by 8.1% growth in 2017 and 9.1% growth in 2018.
    • 2016 outlook: NAND flash equipment spend is expected to be up ~25% Y/Y in 2016 thanks to 3D NAND investments; DRAM spend is expected to drop ~20%, and logic spend be roughly flat. CFO Robert Halliday: "We do believe that the first half is a little bit more weighted to NAND, whereas the second half is more weighted to stronger performance in foundry, logic and DRAM. So we do see a stronger second half." Applied expects to gain WFE share in 2016, aided by strong 3D NAND and 10nm process positions.
    • Orders: Not surprisingly (given soft near-term demand), Applied's chip equipment orders fell in FQ1, dropping 11% Y/Y to $1.28B. However, services orders rose 12% to $773M, and display orders (boosted by OLED equipment demand) rose 71% to $183M. Energy/environmental (solar) orders fell 12% to $44M. (earnings release)
    • Needham's Edwin Mok has upgraded Applied to Buy, with a $22 target. "We believe AMAT's strategy and efforts to drive growth in the Silicon, Display and [global services] businesses are finally starting to yield results, even with limited industry growth ahead. With improving gross margins and good cost control ahead, we now expect the model to deliver strong, double-digit-% earnings growth in 2-3 years, even though it is trading largely in line with other large-cap Semi names."
    • Update: In other news, Lam Research and KLA-Tencor shareholders have each approved the companies' planned merger. The deal is still expected to close in mid-2016.
    | Fri, Feb. 19, 12:25 PM | 1 Comment
  • Wed, Feb. 3, 3:05 PM
    • Kulicke & Soffa (KLIC +14.4%) has surged above $11 after beating FQ1 estimates and guiding for FQ2 revenue of $130M-$140M, above a $129.1M consensus.
    • Fellow chip equipment maker Axcelis (ACLS -9.1%) is off sharply after providing in-line Q1 guidance - revenue in the "mid-$60 million range" and EPS of $0.00-$0.01 vs. a consensus of $65.8M and $0.00 - to go with a Q4 sales beat and in-line EPS.
    • Kulicke CEO Jonathan Chou offered upbeat Q1 commentary: "Stabilizing inventory levels throughout the industry combined with our improved short-term guidance support our view of a recovering market environment. This improving external condition along with our ongoing focus on cost efficiency, prudent capital deployment, targeted development and the initial acceptance of our thermo-compression tool collectively demonstrate our comprehensive effort and execution."
    • On its earnings call (transcript), Axcelis said it plans to seek shareholder approval for a reverse split at its May annual meeting. CEO Mary Puma: "A one-for-four reverse split would bring our share count in line with our peer group. We expect the stock split to ultimately result in an increase in our institutional shareholder base as well as provide final resolution in our earnings-per-share."
    • Larger equipment makers such as Lam Research and ASML have indicated industry demand will grow strongly in Q2 following a soft Q1. Intel and TSMC plan to increase capex in 2016 (with Intel's growth coming off depressed levels); Samsung (an Axcelis client) is expected to cut capex due to lower DRAM-related spending. Axcelis received several earnings call question about memory spending.
    • Kulicke & Soffa: FQ1 results, earnings release
    • Axcelis: Q4 results, earnings release
    | Wed, Feb. 3, 3:05 PM
  • Tue, Feb. 2, 4:06 PM
    • Axcelis Technologies (NASDAQ:ACLS): Q4 EPS of $0.00 in-line.
    • Revenue of $70.46M (+12.7% Y/Y) beats by $1.92M.
    | Tue, Feb. 2, 4:06 PM
  • Mon, Feb. 1, 5:35 PM
  • Tue, Jan. 12, 9:12 AM
    • Axcelis (NASDAQ:ACLS) now expects Q4 revenue of $70M and EPS of $0.00-$0.01, vs. a consensus of $62.6M and $0.00. Prior revenue guidance was at $60M-$65M.
    • Gross margin is expected to be in the low-30% range; prior guidance was 33%-34%. The quarter-ending cash balance is expected to be $85M, up $5M Q/Q.
    • CFO Kevin Brewer: "Purion [implanter] systems sales have been the driver of our top line in 2015. Gross margins in the fourth quarter will be slightly lower than guidance, impacted by the closure of one of our outstanding Purion H evaluation tools one quarter sooner than expected."
    • Shares have risen to $2.58 premarket.
    | Tue, Jan. 12, 9:12 AM
  • Nov. 4, 2015, 4:06 PM
    • Axcelis Technologies (NASDAQ:ACLS): Q3 EPS of $0.05 beats by $0.01.
    • Revenue of $79.31M (+105.8% Y/Y) beats by $1.19M.
    | Nov. 4, 2015, 4:06 PM
  • Nov. 3, 2015, 5:35 PM
  • Sep. 29, 2015, 9:57 AM
    • Three chipmakers have placed orders for Axcelis' (NASDAQ:ACLS) Purion M medium-current implanter. The systems will be used with wafers ranging in size from 150mm-300mm, and help produce image sensors, power management chips, and specialty logic chips.
    • Revenue for one of the orders will be recognized in Q4, while the other two will ship in 2H16. EVP Bill Bintz: "These wins highlight the advantages the Purion M provides for specialty device manufacturing, especially in the areas of energetic metals contamination control and advanced process control. The Purion M's innovative hybrid filtering technique is the only technology available today specifically designed to utilize both magnetic and electrostatic filtration to enable unmatched metals filtration, subsequently delivering significantly higher device yield for our customers."
    • Axcelis is reiterating its Q3 guidance (provided in early August), as well as a forecast it will end 2015 with a 17%-20% implanter share. Further share gains are expected in 2016.
    | Sep. 29, 2015, 9:57 AM | 1 Comment
  • Sep. 8, 2015, 3:25 PM
    • The Philadelphia Semi Index (SOXX +3.9%) has risen to its highest levels since mid-August on a day the Nasdaq is posting a 2.3% gain.
    • Likely helping out: Microchip (MCHP +8.4%), still often seen as an industry bellwether (though its commentary accompanying last fall's warning sparked criticism), has adjusted its FQ2 (calendar Q3) revenue and EPS guidance to $545M-$563M ($554M midpoint) and $0.60-$0.66 from a prior $$532M-$569M ($550.5M midpoint) and $0.58-$0.66. The outlook comes after many chipmakers (Microchip included) offered below-consensus calendar Q3 guidance amid an inventory correction, weak PC demand, and slowing Chinese smartphone growth.
    • Microchip's core ops are said to be tracking in-line with prior expectations, and recently-acquired Micrel's above expectations. The 8.6M shares issued in the Micrel deal have been repurchased.
    • Also: Various Taiwanese chipmakers and supply chain firms have reported August sales. Chip packaging/testing firms ASE (ASX +5.9%) and Siliconware (SPIL +4.1%) respectively reported sales were up 5.8% and 5.7% M/M, and up 9.5% and down 4.2% Y/Y.
    • Big gainers include Microchip peers NXP (NXPI +6.8%), Freescale (FSL +5.8%), Silicon Labs (SLAB +4.4%), and Cypress (CY +4.4%). Others include Avago (AVGO +5.8%), Xilinx (XLNX +5.7%), Cavium (CAVM +5.5%), Analog Devices (ADI +6.3%), Synaptics (SYNA +5.4%), Linear (LLTC +4.6%), Cirrus Logic (CRUS +4.7%), IDT (IDTI +4.6%), Sigma Designs (SIGM +4.9%), and chip equipment maker Axcelis (ACLS +8%).
    • SanDisk, ON Semi, and Silicon Motion are benefiting from upgrades/bullish coverage. Apple holds its iPhone event at 1PM ET tomorrow.
    • Chip ETFs: SMH, XSD, PSI, SOXL, USD, SOXS, SSG
    | Sep. 8, 2015, 3:25 PM | 1 Comment
  • Aug. 5, 2015, 6:28 PM
    • Axcelis (NASDAQ:ACLS) rose sharply today after beating Q2 estimates and guiding for Q3 revenue of $75M-$80M, above a consensus of $70.3M consensus. EPS guidance of $0.03-$0.05 is in-line with a $0.04 consensus. Shares made a new 52-week high of $3.32 before closing at $3.18.
    • Continuing a recent trend, strong demand for Axcelis' Purion Ion implanter line fueled Q2 growth: Axcelis says it has doubled the customer count for its Purion H implanters (used by memory manufacturers) in 2015, and added 3 non-memory clients for its Purion XE implanters.
    • A 270 bps Y/Y improvement in gross margin to 34.6% boosted EPS, as did a $500K Y/Y drop in GAAP operating expenses to $20M. Axcelis ended Q2 with $78.1M in cash, and $47.6M in debt.
    • Q2 results, PR
    | Aug. 5, 2015, 6:28 PM | 1 Comment
Company Description
Axcelis Technologies, Inc. designs, manufactures and services ion implantation, dry strip and other processing equipment used in the fabrication of semiconductor chips. It provides extensive aftermarket service and support, including spare parts, equipment upgrades, maintenance services and... More
Sector: Technology
Industry: Semiconductor Equipment & Materials
Country: United States